Losses and lawsuits


Our monthly review of fraud management failure, human error and other operational hazards at financial firms around the world, distilled from the First database of operational risk loss events and case studies

American International Group (AIG)

In a case that presents an insurance model for ‘roundtrip’ transactions and accounting irregularities, the Securities and Exchange Commission (SEC) announced on September 11 an enforcement action against American International Group (AIG). AIG consented

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